Luxury Homes Sales Outpacing Rest of Housing Market

According to realtor.com’s Luxury Housing Reported, which was released on Thursday, June 25^th, the luxury market is actually outpacing the rest of the housing market in both price growth and virtual and in person tours. While quiet in April, the market was back in full roar in early May. According to Dannielle Hale, realtor.com chief economist, “The COVID-19 pandemic has reinforced the resilience of the housing market and unlike prior downturns, the luxury market is leading the recovery. But, like the rest of the market, inadequate inventory is the biggest challenge for these homebuyers.